Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Yoon set for talks with Marcos in Philippines
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Can Jennie break the K-pop solo artist slump?
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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First lady’s Dior bag scandal to be at center of Assembly audit
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Firefighters’ 3,000 won meals spark nutrition concerns
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Mobile carriers' Q1 profit to improve on marketing cut
Korea's three mobile carriers are expected to enjoy improved performances in the first quarter of 2016 from a year earlier, industry data showed Thursday, on the back of reduced marketing expenditures.According to the data compiled by financial tracker FnGuide, the country's three mobile carriers -- SK Telecom, KT, and LG Uplus -- are expected to post a combined operating profit of 976.3 billion won in the January-March period, up 11.2 percent from a year earlier.Sales are estimated at 12.5 tril
April 7, 2016
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Korea to launch Muslim-friendly certificate system for restaurants
A Korean state-run tourism promotion agency is pushing to introduce a "Muslim-friendly certificate" for local restaurants where visitors could be served well-prepared halal food, industry sources said Thursday.According to the sources, the Korea Tourism Organization (KTO) plans to launch the Muslim-friendly certificate system around August, which will be granted to restaurants based on how well halal food and other dishes are prepared and served.Halal food refers to food products that are prepar
April 7, 2016
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Samsung, LG seek performance revival via flagships
Korea's top tech giants are expected to enjoy improved sales from their mobile businesses, industry watchers said Thursday, as their flagship smartphones just released in March are boasting better-than-expected sales at home and abroad.The average daily sales of Samsung Electronics's Galaxy S7 and Galaxy S7 Edge smartphones are estimated at 15,000 units in Korea, with accumulated sales estimated at 400,000 units, industry data showed.Local analysts earlier said Samsung sold around 10 million uni
April 7, 2016
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Kooksoondang releases banana makgeolli
Traditional liquor producer Kooksoondang has released a new line of makgeolli flavored with banana, the company announced Thursday.The Rice Makgeolli Banana combines traditional Korean methods of brewing makgeolli together with banana puree, an internationally enjoyed ingredient. The makgeolli contains 4 percent alcohol, and will be priced at approximately 1,700 won per 750 milliliters. Kooksoondang’s Rice Makgeolli Banana (Kooksoondang)Rice Makgeolli Banana will be sold in 11 countries around t
April 7, 2016
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Best Korea Brands reflects potential of beauty, content markets
With Samsung Electronics remaining on top, an annual list of Korean brand value showed beauty and content brands picking up momentum in a fast pace.According to global brand consulting firm Interbrand, cosmetics brand AmorePacific, home to the premium brand Sulwhasoo, was the second-fastest growing brand in terms of brand value in 2015. Breaking into the top 10 for the first time, AmorePacific’s brand value grew at 41 percent to reach 2.44 trillion won ($2.1 billion). The top 50 Korean brands,
April 7, 2016
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[Consumer This Week] ‘Descendants of the Sun’ cookies, Yamaha, Crocs, Burberry, Lafuma and Pulmuone
KBS rolls out ‘Descendants of the Sun’ cookiesKorean Broadcasting System, a major TV channel that airs hit drama “Descendants of the Sun,” has released gift sets of handmade cookies named after the show. The station will receive preorders for the products through Korea’s online shopping sites including Gmarket, Auction, 11ST and Interpark. Cookies will be shipped out starting April 14 and orders can also be made from outside the country. There are five kinds of cookie sets, including sugar-coate
April 7, 2016
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Samsung Electronics' Q1 earnings beat forecast
Korean tech giant Samsung Electronics said Thursday its first-quarter operating profit is estimated to have hovered far above the previous forecast, apparently on the back of early sales of its flagship smartphone, the Galaxy S7.Samsung said it is believed to have posted an operating profit of 6.6 trillion won ($5.6 billion) in the January-March period, up 10.37 percent from the same period last year. From the previous quarter, the Q1 estimate marks a 7.49 percent rise. Samsung Galaxy S7 (Yonhap
April 7, 2016
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CJ CGV's credit outlook 'negative' over deal to buy Turkey's cinema chain
Korea Ratings, a leading credit rating agency in South Korea, downgraded the credit outlook for CJ CGV from "stable" to "negative" Wednesday, citing a growing financial burden from its planned takeover of a Turkish cinema chain.CJ CGV, South Korea's top operator of multi-screen theaters, announced earlier that its consortium would buy Istanbul-based Mars Entertainment Group for 792 billion won ($682 million).CJ CGV plans to pay 300 billion won to secure a 38.1 percent stake.Korea Ratings noted t
April 6, 2016
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[Photo News] New bullet train, Hemu
NEW BULLET TRAIN, HEMU – New bullet train Hemu enters Gwangmyeong station in Gyeonggi Province, during a trial ride event on April 6. The train developed by Korean technologies is able to drive up to 430 kilometers. (Yonhap)
April 6, 2016
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Korean builders alarmed over Chinese firm’s deal
A recent deal bagged by a state-owned Chinese builder for a major construction project in Korea is causing local construction firms to feel the heat, according to industry sources close to the matter. Greenland Group, China’s largest real estate developer, said on Tuesday it had commissioned China State Construction Engineering -- the world’s third-biggest construction firm -- to erect Jeju Dream Tower on Jejudo Island. The Chinese developer got authorization to build the two 38-story buildings
April 6, 2016
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[Newsmaker] U.S. OKs Celltrion's Remicade biosimilar
The U.S. Food and Drug Administration approved Korean biopharma company Celltrion’s Remicade (infliximab) biosimilar on Wednesday, marking the second entry of a biosimilar drug in the U.S. pharmaceutical market. The U.S. regulator approved Inflectra, Celltrion’s biosimilar replication of Johnson & Johnson’s blockbuster drug Remicade, for the treatment of rheumatoid arthritis, Crohn’s disease, ulcerative colitis and other conditions.Celltrion CEO Kim Hyoung-ki speaks during a press conference hel
April 6, 2016
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Samsung firms strive to reduce dependency on electronics arm
Samsung Group's affiliates saw their dependency on the group's mainstay electronics unit fall in terms of sales in 2015 from a year earlier, industry data showed Wednesday, as they struggled to stand on their own two feet.Samsung Electronics, the mainstay unit of Korea's top conglomerate Samsung Group, accounted for 56 percent of the sales of Samsung Display last year, the data showed. It marked the first time for the figure to hover below 60 percent since 2012, when the display unit was spun of
April 6, 2016
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Korean Air dismisses pilot refusing overtime work
Korean Air, the nation’s largest air carrier, dismissed a pilot who refused to work overtime citing the company’s protocol that bans them from operating flights more than 12 hours a day, according to a group of unionized workers Wednesday.The pilot, surnamed Park, landed in Manila from Incheon on Feb. 21 and was scheduled to operate a returning flight after a recess. But as the operation to Manila took longer than scheduled, he refused to fly the returning flight saying it violates the company’s
April 6, 2016
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Financial holding firms' 2015 net drops 12%
Korea's seven financial holding companies suffered a 12 percent decline in combined net profit last year due to a base effect, government data showed Wednesday.The seven financial holding groups -- Shinhan, Hana, KB, NH, BNK, JB and DGB -- posted a net profit of 5.595 trillion won ($4.8 billion) in 2015, down from 6.383 trillion won a year earlier. Given that 1.312 trillion won worth of one-off gains were reflected in their bottom lines in 2014, they fared well last year, the Financial Superviso
April 6, 2016
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SK affiliate fined in China for forex violation
An affiliate of Korean energy and telecom conglomerate SK Group has been fined 5.53 million yuan ($853,000) in China for violating foreign exchange rules, industry sources said Wednesday.SK Global Chemical International Trading, an affiliate of SK Innovation, the group's refining unit, was slapped with the fine by China's foreign currency authorities, according to the sources. SK headquarters in Seoul (Yonhap)The SK company is reportedly accused of failing to endorse checks in some of its transi
April 6, 2016
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Nine hidden superrich
The 2016 Forbes World’s Billionaires list released last month includes 31 Koreans after calculating their personal wealth -- value of listed and unlisted stocks, cash holdings, real estate and artworks. Most Koreans who made it to the definitive list of the world’s wealthiest people are well-known heads and family members of chaebol such as Samsung, Hyundai, Lotte and SK. However, it also includes nine unfamiliar names.While it may seem strange that these superrich have managed to avoid the publ
April 5, 2016
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Organica’s Anseong juice plant kicks off production
Organica Day, the juice-making arm of Herald Corp. said Tuesday that it has begun operating its new juice production plant equipped with high pressure processing technologies, in Anseong, Gyeonggi Province. The new plant, acquired by Organica Day from CJ CheilJedang in December last year, has been remodeled and optimized to manufacture the juice brand’s all-natural, cold-pressed cleanse juices currently sold at Starbucks, The Coffee Bean & Tea Leaf, Artisee and E-mart Traders.Organica Day’s Anse
April 5, 2016
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Korea, Mexico agree on drug standards deal
South Korea and Mexico signed an agreement in Mexico City Tuesday to mutually recognize each state’s pharmaceuticals qualification standards, a move expected to expedite the entry of Korean drugs into the Mexican market. The deal will take effect once Mexico officially joins the Pharmaceutical Inspection Cooperation Scheme, an international body that sets an international manufacturing quality standard for new drugs. The U.S., European Union, Japan and Korea are among its members.(123RF)Though t
April 5, 2016
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AREX, primary transport from airport to Seoul
Airport Railroad Express has become one of the most used means of transport between Incheon International Airport and Seoul among foreign tourists in Korea, company officials said Tuesday. AREX trains run between Incheon International Airport and Seoul Station. They operate on two services -- All-stop Train and Express Train. The regular train stops at all 12 stops and the express line operates nonstop.Tourists aboard AREX (AREX)The regular train ticket costs 4,150 won and takes 58 minutes from
April 5, 2016
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K-water seeks to address Asia’s water scarcity
K-water said it aims to take the lead in tackling Asia’s water scarcity in partnership with member nations of the Asia Water Council, an organization that aims to foster systematic regional cooperation on related issues.The Korean government agency for water resource development took the lead in establishing the council last year along with the Ministry of Land, Infrastructure and Transport to deal with water crisis in Asia. It is currently comprised of 26 member nations and 105 relevant organiz
April 5, 2016